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T3 Go's Ride-Hailing Empire: 200M Users, 1.1M Drivers, Eyeing IPO

From a RMB 5.28B startup to a ride-hailing giant, T3 Go's growth is unstoppable. With a focus on sustainability and strategic alliances, it's set to dominate the market.

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This is a presentation and here we can see vehicles on the road and we can see some text written.
This is a presentation and here we can see vehicles on the road and we can see some text written.

T3 Go's Ride-Hailing Empire: 200M Users, 1.1M Drivers, Eyeing IPO

T3 Go, a leading ride-hailing service, has witnessed significant growth since its launch in July 2019. The company, which started with a registered capital of RMB 5.28 billion, has raised substantial funding and is now considering a pre-IPO financing round before listing on the Hong Kong Stock Exchange. Meanwhile, the Municipal Transportation Bureau of Sanya has temporarily halted business license issuance to ride-hailing companies, making potential drivers more cautious about entering the market.

T3 Go's expansion has been remarkable. It now serves over 118 cities, processes over 3 million daily orders, and has amassed over 200 million registered users and 1.1 million registered drivers. The company's '1521' strategy, launched in April 2023, aims to further boost its growth. This strategy includes increasing peak daily orders to 10 million, generating RMB 50 billion in annual revenue, expanding to over 200 cities, and operating at least 1,000 Level 4 self-driving vehicles commercially by 2026.

T3 Go is also focusing on sustainable transportation. It is working with cities on carbon offset projects, allowing users to earn emission reductions when they choose to ride in new energy vehicles. The company's 'Iron Triangle' alliance, consisting of T3 Go, DSI, and Immotor, is dedicated to the commercial utilization of automated vehicles. The recent announcement by Didi, T3 Go's main competitor, to resume new user registrations and downloads has further intensified competition in the ride-hailing market. Other platforms like Alibaba-backed AutoNavi and Geely-owned Cao Cao Mobility have also made new moves this year, adding to the market's revival.

T3 Go's impressive growth and ambitious plans indicate a strong future for the company in the ride-hailing sector. Its focus on sustainability and strategic alliances position it well for the challenges and opportunities ahead. As local governments enhance regulations for traffic and digital safety, companies like T3 Go must maintain high compliance and safety standards to ensure the healthy growth of the shared mobility sector.

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